Disney slashes hundreds of jobs globally while raking in record profits—just another corporate sacrifice to the gods of Wall Street while executives keep their golden parachutes.
At a Glance
- Disney is laying off several hundred employees worldwide across multiple divisions including television, film marketing, and corporate finance
- The cuts come despite Disney recently reporting strong profits, thriving theme parks, and increased streaming subscribers
- This round of layoffs follows CEO Bob Iger’s 2023 plan to eliminate 7,000 jobs as part of a $5.5 billion cost-saving initiative
- Disney claims the restructuring is necessary to “manage businesses efficiently” while maintaining creativity
- The company’s stock increased slightly in midday trading after the announcement
Disney’s Latest Round of Corporate “Efficiency”
The Walt Disney Company is swinging its corporate axe once again, this time chopping “several hundred” jobs across its global divisions. While American families struggle with inflation and economic uncertainty, Disney executives are busy “streamlining operations” despite posting strong profits and box office successes. The cuts will impact television and film marketing, TV publicity, casting and development, and corporate financial operations—basically everything except the executive suites where these decisions get made.
Disney’s PR machine insists no entire teams will be eliminated in this process—how thoughtful of them! This corporate bloodletting is just the latest chapter in CEO Bob Iger’s 2023 master plan to slash approximately 7,000 jobs as part of a $5.5 billion cost-saving initiative. Nothing says “The Happiest Place on Earth” quite like mass layoffs while the company continues to report strong revenue growth and thriving domestic theme parks. But hey, at least their stock ticked up slightly in midday trading—I’m sure that’s comforting to the hundreds of families now facing unemployment.
Corporate Doublespeak at Its Finest
Disney’s justification for these cuts is a masterclass in corporate doublespeak. The company claims the layoffs are part of their strategy to “manage businesses efficiently while maintaining creativity and innovation.” Translation: We need to keep Wall Street happy while our executives continue to enjoy their seven-figure compensation packages. It’s the same old story of corporate America—sacrifice the workers while protecting the decision-makers at the top. These are the same people who’ve been pushing woke agendas in children’s entertainment while simultaneously gutting their workforce.
The timing couldn’t be more insulting. Disney recently reported strong profits and revenue, with thriving domestic theme parks and an increase in streaming service subscribers. They’ve even had box office success with films like “Thunderbolts” and “Lilo & Stitch.” So naturally, the logical next step is to fire hundreds of employees! This is the same corporate mentality that has hollowed out American industries for decades—maximize short-term profits at all costs, human consequences be damned.
The Real Magic Kingdom: Wall Street
Let’s call this what it really is: Disney isn’t struggling to keep the lights on. This is about pleasing shareholders and pumping up quarterly earnings reports. It’s about Bob Iger delivering on his promised $5.5 billion in cost-cutting measures, regardless of how many families get hurt in the process. Disney continues to charge families small fortunes to visit their parks, rake in billions at the box office, and expand their streaming empire—all while treating their employees as disposable resources to be discarded when convenient.
The most infuriating part? The market rewarded this behavior with a stock bump. This is exactly why Americans are fed up with corporate America and the disconnect between Wall Street and Main Street. While Disney executives will undoubtedly congratulate themselves on their “tough but necessary” decisions in air-conditioned boardrooms, hundreds of real people with real families now face real financial insecurity. But I’m sure Mickey Mouse will sleep just fine tonight in his corporate castle, counting all those record profits while his loyal subjects look for new jobs.
